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Introduction #
The Third-Party Bank Accounts module allows you to record the bank details of your customers and suppliers. This information is used, in particular, for SEPA direct debits, supplier transfers, and bank reconciliation. The module is accessible via Finance > Third-Party Bank Accounts.
1. Open a third-party bank account #
There are two ways to set up a third-party bank account:
- From the module list: Finance > Third-Party Bank Accounts
- From record customer or supplier record : tab Bank Accountstab, Add
Information to provide:
- Bank account of: the customer or supplier who holds the account (required)
- Name: a label to identify the account
- IBAN: the account's IBAN
- BIC: the bank's BIC/SWIFT code
- Account holder: the account holder's name as it appears on the bank account
- Default bank account: Check this box to use this account as the default for direct debits
Accounting:
- Account number: the chart of accounts entry associated with this third party
Good to know: A single customer or supplier may have multiple bank accounts on file. The account marked as "default" will be automatically selected when creating a SEPA direct debit.
2. Balance Information #
For accounts connected via a banking API, Kafinea can display:
- Balance: the current account balance
- Coming soon: pending transactions
- Last updated: the date of the last synchronization
3. Frequently Asked Questions #
What is the difference between a bank account and a third-party bank account?
The module Bank Accounts manages your own company's accounts. The Third-Party Bank Accounts manages your customers' and suppliers' accounts.
Is a third-party bank account required to set up a direct debit?
Yes, a SEPA direct debit requires a third-party bank account with a valid IBAN. Without this information, the direct debit cannot be set up.